Obama doesn’t like Hu’s weak Renminbi, Hu doesn’t like Obama’s protectionist tariffs
President Barack Obama urged Hu Jintao to allow his country’s currency to rise. Hu Jintao on the other hand hinted that the US dropping tariffs on steel, tyres and other Chinese goods would be nice. Obama said: “I was pleased to note the Chinese commitment, made in past statements, to move toward a more market-oriented exchange rate over time.” Hu Jintao said they should, “oppose and reject protectionism in all its manifestations”. Economist Andy Xie thinks that there are more …
President Barack Obama urged Hu Jintao to allow his country’s currency to rise. Hu Jintao on the other hand hinted that the US dropping tariffs on steel, tyres and other Chinese goods would be nice.
Obama said: “I was pleased to note the Chinese commitment, made in past statements, to move toward a more market-oriented exchange rate over time.”
Hu Jintao said they should, “oppose and reject protectionism in all its manifestations”.
Economist Andy Xie thinks that there are more important issues to be dealt with:
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